Forevermark launches new campaign!

#TrustForevermark addresses buyer concern!

Forevermark, the diamond brand from the De Beers Group, has launched its latest consumer campaign #TrustForevermark to help all prospective buyers allay their doubts, fears and questions that arise when buying diamonds.

Now, CoO at Electronic platform

Union Minister of Commerce & Industry and Railways, Piyush Goyal and Minister of State for Commerce & Industry, Hardeep Singh Puri, launched Common Digital Platform for Issuance of electronic Certificates of Origin (CoO) in New Delhi.

Lucara Recovers 123 Carat Diamond

Lucara Diamond announces the recovery of a 123 carat gem quality top white Type II diamond from its 100% owned Karowe Diamond Mine located in Botswana.  The 123 carat diamond was recovered from direct milling ore sourced from the EM/PK(S) unit of the South Lobe. 

The EM/PK(S) has also delivered several other high value diamonds including  the 1,109 carat Lesedi La Rona, the 813 carat Constellation and the recently recovered 1,758 carat Sewelô, and is an important economic driver for the underground feasibility study which is currently underway and scheduled for completion in Q4 later this year.

Optical-patterned diamond collection launched!

Hini Star launched its new optical-patterned diamond collection, The Optica Series, with the release of Stelo, Rozo and Floro, three patented innovative diamond cuts featuring symmetrical patterns that create unprecedented brilliance and light performance.

Speaking on the opening day of the Hong Kong Jewellery and Gem Fair, where Hini Star is traditionally exhibits, Smit Virani, of Hini Star remarked: “The Optica Series is designed to meet the demands and characteristics of today’s consumers and how they experience a diamond. For retailers this means an opportunity to enhance customer engagement and buying experience to boost sales.”

WFDB joins IDMA, DDE and DPA road show

The World Federation of Diamond Bourses (WFDB) has joined the International Diamond Manufacturers Association (IDMA) and the Dubai Diamond Exchange (DDE) in the organization of a road show of current diamond identification and detection technologies on occasion of the 21st Presidents’ Meeting and the Dubai Diamond Conference. These events will take place September 23-26. The Presidents’ Meeting is the biennial meeting of the leadership of two sister organizations, the WFDB and IDMA. The Dubai Diamond Conference is organized by the Dubai Multi Commodities Centre (DMCC).

YoY profit grinded at Gemfields

Gemfields Group Limited, said in a Trading Statement that, Gemfields is reasonably certain that its net profit after tax will be USD 12.4 million for the 6-month period to 30 June 2019 compared to a net profit after tax of USD 16.0 million for the comparative period of 6 months to 30 June 2018. In ZAR terms, net profit after tax will be ZAR 177 million (ZAR 197 million net profit after tax for the comparative period).

First Rapaport Estate Jewelry Auction

Rapaport Auctions announces the first Rapaport Estate Jewelry Auction, to be held November 3-7, 2019. About 250 fine-quality estate and branded jewelry lots will be offered for sale. Viewing and bidding will take place in New York and over the internet with details of lots and great images. The deadline for offering lots is October 4.

Nirvik will Ease Lending for Exporters

ECGC Introduces Nirvik to Enhance Loan Availability

for Exporters Nirvik will Ease Lending Process: Piyush Goyal

Ministry of Commerce & Industry through Export Credit Guarantee Corporation (ECGC) has introduced a new Export Credit Insurance Scheme (ECIS) called NIRVIK to enhance loan availability and ease the lending process.

90% cover for Working Capital Loans

Commerce Ministry through ECGC raises Insurance cover for Banks up to 90% for Working Capital Loans

Union Minister of Commerce & Industry and Railways, Piyush Goyal informed about the details of the Export Credit Insurance Scheme (ECIS) in New Delhi. Minister of State for Commerce & Industry, Hardeep Singh Puri was also present.

Due to the global slowdown and rising NPAs, banks are in stress and therefore require additional support. Finance Ministry has taken steps towards merger of Banks and has infused additional capital to the banks. In order to facilitate banks further Ministry of Commerce & Industry has enhanced Insurance cover for Banks up to 90% for the working capital loans and moderation in premium incidence for the MSME sector.

VAT exemption for intra- EU Community

According to AWDC, on 1 January 2020, the conditions to be able to enjoy a VAT exemption for intra-Community deliveries will be changed. This has an impact on the documents that will be accepted as proof of delivery/shipment of diamonds to another EU member state. Read below what exactly is changing and what to take into account if you transport or dispatch diamonds to another member state.